Legal Question in Banking Law in California

I live in California and I wanted to know about Set Off...Can a bank set off your personal checking account if you voluntarily surrendered your vehicle? I did a voluntary repo. with WellsFargo Financial Auto and I bank with them as well. Can they do this? i have a deficiency balance of 19,000? Thanks


Asked on 7/27/10, 2:35 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Better get your money out of the bank before they take it, as your depositor agreement that you signed gives them the right of set-off. Visit a bankruptcy attorney.

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Answered on 8/01/10, 2:43 pm


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